US: Cost management boosts Coca-Cola Co Q3
- Net profits up 8%
- Operating profits up 9%
- Worldwide volume growth of 5%
The Coca-Cola Co has booked an increase in third quarter profits
The Coca-Cola Co has reported an increase in third quarter profits, driven by a strong top-line performance and a continued focus on cost management.
For the three months to the end of September, net profits rose by 8% to US$2.95bn, Coca-Cola said today (19 October). Operating profits increased by 9% to $2.34bn in the quarter and were up by 13% in the first nine months of the year, compared to the same periods of last year.
Third quarter net sales reached $8.43bn, a 5% increase on last year. Nine-month sales also increased by 5%.
Coca-Cola recorded global volume sales growth of 5% in the quarter, ahead of its long-term target, with "balanced quality growth" around the world, including 2% North America growth and 6% international growth. Year-to-date worldwide volumes also grew by 5%. Volume growth was led by the Coca-Cola brand, up 4% in the quarter and year-to-date.
“We are now intensely focused on driving a fast and seamless integration effort in our North America operations," said Muhtar Kent, chairman and CEO. "This evolution of our franchise system is an important milestone in realising our 2020 Vision, strengthening our commitment to best serve our customers and consumers and facilitating our ability to achieve sustainable and profitable growth in this, our flagship market.
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